Computer networks such as the Internet can be used for offering services and products for sale to the public by a business and for business to business transactions. Part of this popularity might be attributed to the fact that a larger number of potential customers/clients can be reached at low cost compared with conventional forms of promoting products/services, such as by brochures and expensive advertising.
In recent times real estate agencies have been offering real estate property services for sale/lease/auction/inspection etc, to the public via the Internet. Typically a person who wishes to use the Internet to purchase a property will access a website and may either manually view each of the properties offered for sale/lease/auction/inspection, or alternatively they may enter a search (for example by location), so as to view those properties which are listed on the real estate Agent's database.
A limitation with this method is that as the Internet can be accessed by any number of people, the real estate Agent will be constrained by the number of properties which they can offer at any one time. It can be difficult for any number of real estate Agents to locate selected property listings on the Internet in a central location and in a format which allows them to update the listings automatically. Hence, the management of up to date information on the website can become cumbersome.
Furthermore, if other Agents wanted to list their properties on another Agents web site, the format in which the data is transferred between the two agencies may not be compatible, and hence there may be difficulties in transferring information.
Additionally, previous methods of selling property via the Internet, have involved mere searching techniques in order to match buyers with sellers. There has been no way of additionally managing or facilitating the exchange of property, during the transaction phase.